SiGMA Malta sustains equivalent of 950 jobs for one year according to recent study

This year’s SiGMA event attracted a record-breaking number of delegates and created significant economic activity in the country

In November this year, SiGMA, the world’s leading gambling industry platform, held its hotly-anticipated Europe Summit at the Malta Fairs and Conventions Centre in Ta’ Qali. 

The event represents a stunning success, not only for SiGMA — which has seen attendance at its events swell from 1,500 in 2014, to 25,000 in Malta and over 50,000 worldwide this year — but additionally for Malta’s economy more widely. 

According to a recent impact assessment by E-Cubed Consultants, SiGMA Group’s Malta-based summit generates significant economic activity on the island and sustains employment within various sectors. This in turn promotes economic growth and development, bringing enhanced value to Malta as a destination for business. 

Boosting employment generation and economic value

The assessment looked at revenue data for this year and from 2016 to 2019, focusing on the number of SiGMA attendees and their expenditure while in Malta — including on travel and accommodation. Data from 2020 and 20201 was excluded from the study due to the unprecedented and unique economic impacts of the COVID-19 pandemic.

The report reveals that the economic output generated from this year’s summit is equivalent to sustaining 950 jobs for one year, with these occupations spread across a wide range of sectors including gaming, retail, manufacturing and leisure. 

In particular, businesses operating in fields such as gaming services, esports, emerging technology, ICT, corporate services, medical technology and digital and affiliate marketing generated €194 million in value added to Malta’s economy, equivalent to 7% of the value added by the relevant sectors. These sectors are currently responsible for 38,000 jobs in Malta, equivalent to 33% of their total employment in the country. 

Attracting visitors in an off-peak season

According to E-Cubed Consultants, international visitors to SiGMA’s event is projected to have boosted Malta’s four and five-star hotel occupancy rate this November to over 60% — an increase of 20% from the rate usually seen at this time of year.  

Indeed, SiGMA Malta 2019 is estimated to have generated €6 million in added value as a result of economic activity attributable to the both the event and associated tourism. This is equivalent to 0.05% of the total value added to the economy of the country for that year.

Sigma Group founder Eman Pulis with Prime Minister Robert Abela
Sigma Group founder Eman Pulis with Prime Minister Robert Abela

Looking to the future

As a company operating in a diverse and constantly evolving industry, SiGMA stresses its pride at being able to draw on some of the most vibrant, entrepreneurial and fast-growing industries in the world, while continuing to look outwards to broad new international horizons. 

In line with this aim, the group has announced a series of bi-monthly summits next year taking place across five continents and in cities including Nairobi, Dubai, Sao Paulo, Manila and Limassol, with Nairobi 2023 marking the company’s inaugural event in Africa

SiGMA Group is also pleased to announce a return to Malta next year — one of their most successful and popular locations, and one which holds a vital place in both the company’s portfolio and in the thriving European iGaming industry.